Ambulance Co. Rural/Metro Files For Ch. 11 Lifeline

Law360, Wilmington (August 5, 2013, 3:54 PM EDT) -- One of the largest providers of ambulance service in the United States, private equity-owned Rural/Metro Corp., filed for Chapter 11 protection Sunday after striking a deal with creditors aimed at cutting both its outstanding debt and future interest payments in half.

The Arizona-based company and more than 50 of its affiliates filed in the U.S. Bankruptcy Court for the District of Delaware after experiencing a liquidity crunch that led to its corporate credit rating being downgrading by Moody's Investor Service and Standard & Poor's, and after...
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